Reverse Mortgage

A reverse mortgage loan can be a great option for those looking for retirement income or to pay off their current mortgage balance. Below is a quick overview on what to expect during your research.

Quick Reverse Mortgage Qualification Checklist

Step 1

Does this make sense for your situation?

Does a reverse mortgage make sense for your situation? Talk to your accountant, financial
planner, or attorney to understand your options.

Step 2

Would you qualify?

You must be at least 62 years old and your home must also be your primary residence.

Step 3

Educate yourself.

Make sure to receive free information from multiple reverse mortgage experts and compare
what they are offering. You can start by going to step 1 below.

Step 4

What are the hidden fees and closing costs?

There are a lot of scams targeting seniors. Ask about all the fees, closing costs, and other
hidden costs before securing a loan. Make sure your lender is HUD approved.

Step 5

Close the deal.

Underwriting will review your reverse mortgage application for approval after a home
appraisal and inspection.

Reverse Mortgage Lenders by State

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